A-Z Index

Important Financial Aid Information

Terms and Conditions

  • I understand that my awards are contingent upon adequate funding and state and federal regulations.

  • I understand that all aid will be packaged originally for full-time attendance. If I enroll less than full-time my aid must be adjusted accordingly. Federal Pell Grants, Supplemental Educational Opportunity Grants (SEOG), Teach Grant and Federal Perkins Loans will be adjusted as follows:
    9-11 hours 75%
    6-8 hours 50%
    1-5 hours Pell only 25%

    NOTE: Pell awards of less than $2,325 per year ($1,163 per semester) or an EFC greater than $3,501 would not be eligible for an award if student is enrolled in less than half-time enrollment (6 hours) in the semester.

  • I understand that financial aid funds will be scheduled for disbursement once per semester, beginning on the first day of classes each semester.

  • My course load for the term will be locked at the end of the free drop/add period of each term. My eligibility for aid will be adjusted to the appropriate level of enrollment at that time.

  • I must maintain satisfactory academic progress, as outlined at Forms under Academic Progress.

  • Funds I accept must be applied to outstanding educational expenses at Northwest Missouri State University (fees, room and board) before the surplus may be disbursed to me. All assistance will be used for educational expenses related to my attendance at Northwest Missouri State University.

  • These awards may be voided or changed at any time if incorrect or false information is discovered on the application or if there has been an error in computing the award.

  • Any change in enrollment, state residency or the receipt of additional outside resources after the initial award must be reported to the Office of Scholarships and Financial Assistance. Revisions or changes in status will necessitate revisions of the award.

  • I understand that if I withdraw from school prior to the completion of a semester, the financial assistance award received will be prorated and the unused portion of the financial assistance award will be refunded to the programs involved. Depending on the portion of the aid, I may owe a balance on my account.

  • I understand that if I fail all classes in a term, a last date of attendance must be established and a financial aid withdrawal calculation must be done from that date. This may result in federal funds being returned which may create a balance due to my account.

  • I understand that all academic year William D. Ford Direct Loans (Subsidized, Unsubsidized and Parent PLUS) must be disbursed in two equal payments.

  • As a first-time borrower of William D. Ford Direct Loans (Subsidized and Unsubsidized) at Northwest, I realize that I must complete an online entrance counseling session and Master Promissory Note (MPN) before any part of my loan can be disbursed and credited to my account. The MPN requires the FSA ID and Password used to complete the FAFSA.

  • I understand that students who receive a Direct Loan are subject to the terms and conditions disclosed on the Federal Direct Loan Master Promissory Note (MPN) and the Direct Loan Disclosure Statement.

  • I understand that any Federal Title IV, HEA Loan I receive will be submitted to the National Student Loan Data System (NSLDS) and will be accessible by guaranty agencies, lenders, servicers, and other institutions determined to be authorized users of the data system. 

  • I understand that if I have received loans at any time while enrolled at Northwest Missouri State University, I must complete an exit counseling session before I leave the University for any reason.

  • I understand that I must be seeking a degree and may receive aid from only one institution during an academic term.

  • I understand that to receive federal aid I must be enrolled in at least six credit hours at Northwest except for those who qualify for Federal Pell Grant funds.

  • I understand that I must be enrolled in a minimum of 12 credit hours at Northwest in order to receive Northwest scholarships or to be considered for State of Missouri assistance programs.

  • I understand that if I enroll at another institution concurrently with my Northwest enrollment I must have a completed Federal Aid Consortium Agreement for each term filed with the Northwest Office of Scholarships and Financial Assistance before I can receive federal aid for the total enrollment.

  • I understand that proceeds from Federal Direct PLUS Loans (parent) will credit directly to my account, pay off all charges and any overpayment will be refunded to my parent. In order for overpayments to be refunded to me, my parent borrower must indicate so on the Parent Loan Information Form.

Important Notes and Disclaimers

  • No Direct Loan funds can be credited to a student's account without properly completing the online Loan Entrance Counseling and Direct Loan Master Promissory Note.
  • Funds for academic year loans are required to be disbursed in two equal payments.
  • The amount listed for federal aid could decrease if the student receives additional scholarships or other resources.
  • Students who are seeking a degree may receive aid from only one institution during an academic term.
  • Your Award Offer indicates whether or not you are eligible for the Federal Work Study program. Being eligible does not guarantee you a position. In order to receive these funds you must obtain employment. The job application, search and interviewing process are part of your career education. Search Student Employment for open positions on campus.
  • All awards, except Federal Work Study, are applied to the student's account. Employment through work study program positions is NOT guaranteed and hours must be earned before a payroll check is produced. Payroll checks are produced on the 25th of each month and are made payable to the student.
  • You may seek employment on campus even if you do not qualify for Federal Work Study, but first priority for employment is given to those who do. Contact the Student Employment Office at 660.562.1140 or at if you have specific questions. The Student Employment Office will also be available to answer questions at all SOAR dates. Students intending to work on campus will be required to complete employment verification and authorization paperwork which will require presenting certain documents.
  • All financial assistance (including private scholarships and outside resources) reduces a student's total Northwest account balance before installment amount is calculated. Scholarships will not satisfy an installment payment.
  • Many outside resources such as private scholarships, vocational rehabilitation and the Access Missouri Grant are not awarded until a later date. When we are notified of those awards, it will require a revision of your financial aid package.

Private Scholarship Funds Notice Disclaimer

You may need to provide proof of enrollment such as a copy of your billing statement, class schedule or most recent grades before your donor will release funds. Please allow ample time for the payment to reach Northwest before the semester begins. Arrangement for these funds is the responsibility of the student and scholarship donor. As a general practice, Northwest does not bill for the funds

Frequently Asked Questions Regarding Financial Assistance

Why is the total financial aid (including Direct PLUS Loan (parent) greater than the cost of tuition?

In determining calculated need, we are required to include other estimated costs, such as personal expenses and transportation allowances. You will find that the budget figure we use is approximately $3,000 higher than the average cost of tuition, room and board.

Can we use a scholarship as the first installment on the payment plan?

No. All resources including scholarships are applied to the outstanding balance before installments are calculated.

Why was my loan adjusted when I reported a private scholarship?

We are obligated by law to include all sources of student assistance in the financial aid package. In order to receive a subsidized loan there must be calculated need. With the addition of an outside resource such as a scholarship, the need is reduced.

What is the difference between the subsidized and unsubsidized loans?

In order to receive a subsidized loan the student must have calculated need. With a subsidized loan there are no payments of either principal or interest until six months after the student ceases to attend on at least a half time basis.

Unsubsidized loans are not need based. A student may receive an unsubsidized loan even if there is no calculated need. There are no payments on the principal balance until six months after the student ceases to attend on at least a half time basis, but the student is responsible for the interest from the date that the funds are disbursed. The interest can be paid monthly or quarterly. If it is not paid, it will be capitalized and added to the principal balance. We strongly encourage paying the interest on a regular basis in order to reduce the overall cost of the loan.

My parents don't think they will qualify for a Direct Parent PLUS Loan. What other options are there?

Parents should apply for the Direct Parent PLUS Loan. If they are denied a loan due to adverse credit history, the student can then assume some additional unsubsidized loan eligibility. (Maximum of additional $4,000 as freshman/sophomore status or $5,000 as junior/senior status.)

My parents won't apply for the Direct Parent PLUS Loan. Are there any other options for me?

There are other private educational loans available. They are similar to unsubsidized student loans, but the interest rates may be slightly higher and they generally require a parent co-signer. Contact the Office of Scholarships and Financial Assistance for more details.

What is the disclosure statement?

The disclosure statement comes directly from the Direct Loan Origination Center. It is simply a notification of the established Direct Loan eligibility that we have reported to them. It explains disbursement dates and net disbursement amounts. Receipt of the disclosure statement does not obligate the student for the loan. The loan will be activated only when the Origination Center has received a properly signed Master Promissory Note or Electronic Master Promissory Note.